Agmt 2000 Davis Street Community Center

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State of California, and commonly known as 1103 Davis Street, San Leandro, California (the "Property"). F. Except as set forth in the Loan Agreement of even date herewith, if the property securing this Note, any part of it, or interest in it is sold, or if Maker agrees to sell, convey, or alienate said property, by operation of law or otherwise in violation of the transfer provisions of the Capital Improvement Agreement ,the entire principal sum and accrued interest will at once become due and payable, without demand or notice, at the option of Holder. G. This Note and the Deed of Trust shall be governed by and construed in accor- dance with the laws of the State of California. H. All parties who are obligated to pay any portion of the indebtedness represented by this Note, whether as principal, or endorser, hereby waive presentment for payment, demand, protest, notice of protest and notice of dishonor, and all other notices to which they might otherwise be entitled, and further waive all defenses based on release of security, extension of time or other indulgence given in respect to payment of this Note, to whomsoever given, and further waive all defenses, generally, except the defense of actual payment of this Note according to its tenor. This Note is anon-recourse Note. I. Subject to the foregoing, the terms of this Note shall be binding upon and inure to the benefit of the respective heirs, successors in interest and assigns of Maker and Holder. L. Time is of the essence with respect to each and every provision hereof. If any provision hereof is found to be invalid or unenforceable by a court of competent jurisdiction, the invalidity thereof shall not affect the enforceability of the remaining provisions of this Note. "Maker" DAVIS STREET COMMUNITY CENTER, INC. By: Rose Padilla Johnson J:\WPD\MNRSW\136\001\AGREE12000\Davis Street Prom Note.redline.wpd 2